BUX loses more than 1%
The Budapest Stock Exchangeʼs main BUX index fell 1.10% to 26,556.35 on Friday, dragged down by OTP Bank, which published its first-quarter earnings before the opening bell.
While other indices in the region and Western Europe climbed late in the day, the BUX fell as OTP weighed.
OTP Bank lost 2.73% to HUF 6,960.
The lender said its first-quarter after-tax profit rose 28% year-on-year to HUF 34.3 bln as risk costs fell. OTP also noted that all of its foreign businesses, with the exception of its online bank in Russia, were profitable during the period.
Turnover of OTP shares reached HUF 7.3 bln of a HUF 10.0 bln session total.
Oil and gas company MOL edged down 0.03% to HUF 16,395 on turnover of HUF 0.9 bln.
Drugmaker Richter dipped 0.38% to HUF 5,549 on turnover of HUF 1.6 bln.
Magyar Telekom was down 0.22% at HUF 454 on turnover of HUF 0.2 bln.
The bourseʼs mid-cap BUMIX index dropped 0.53% to 1,785.03.
Elsewhere in the region, Warsawʼs WIG 20 slipped 0.04% but the Prague PX rose 0.28%.
Western Europeʼs biggest indices were all higher before the end of trade. Frankfurtʼs DAX was up 0.84%, Londonʼs FTSE 100 climbed 0.38% and the CAC 40 in Paris advanced 0.54%.
On the week, the BUX advanced 1.64% as OTP gained 1.61%, MOL rose 0.99%, Richter climbed 2.93% and MTel fell 2.37%. Turnover for the week reached HUF 36.7 bln, about HUF 1 bln under turnover in the previous week.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.